The Great Britain pound was rising initially today but reversed gains after UK Prime Minister Theresa May failed yet again to convince the Parliament to vote for her Brexit plans. There were plenty of economic reports released in the United Kingdom today but they had limited impact on the market as the investors’ attention was focused on the Brexit vote. May presented a stripped-down version of the EU-UK Brexit Withdrawal Agreement to the Parliament … “Sterling Reverses Gains as MPs Reject May’s Brexit Proposal Again”
Month: March 2019
GBP/USD: Another week of Brexit suffering? Or darkest before dawn?
GBP/USD struggled as Parliament rejected all options. Additional Brexit frenzy in the House and some data will impact the cable. The technical picture is not bullish anymore. Experts see a short term fall and higher levels afterward. This was the week: No to everything Parliament is yet to say what path it wants with Brexit. Parliament … “GBP/USD: Another week of Brexit suffering? Or darkest before dawn?”
Next for Brexit: Parliament taketh, Parliament can giveth on Monday
For the third time, MPs rejected May’s Brexit deal. Parliament has an opportunity to show the way forward on Monday. GBP/USD has room to recover, but the situation is complicated. The UK House of Commons voted against the Brexit Withdrawal Agreement by a majority of 58: 344 against and 286 for the deal. While smaller than the … “Next for Brexit: Parliament taketh, Parliament can giveth on Monday”
Canadian Dollar Rallies on GDP, Energy Prices
The Canadian dollar is rallying to finish the trading week, buoyed by economic growth beating market expectations and rising energy prices. Despite the multiple bearish forecasts regarding the loonieâs future, the currency recorded an impressive 2% to 3% gain against its most-traded rivals in the first quarter of 2019. According to Statistics Canada, the Canadian economy expanded 0.3% in January, which is more than the 0.1% growth economists had penciled in. Most … “Canadian Dollar Rallies on GDP, Energy Prices”
Euro Struggles to Rally Despite Upbeat German Retail Sales Data
The euro today hit new 3-week lows against the US dollar despite the release of upbeat German retail sales data in the early European session. The EUR/USD currency pair spiked lower shortly after the release of positive German jobs data, then recouped its losses to trade sideways. The EUR/USD currency pair today spiked to a … “Euro Struggles to Rally Despite Upbeat German Retail Sales Data”
Aussie Trims Gains After Rallying on Risk Appetite, Domestic Data
The Australian dollar gained today thanks to the mild risk appetite on the Forex market and positive domestic macroeconomic data. By now, though, the currency has trimmed gains versus some of its rivals. The Reserve Bank of Australia reported that private sector credit increased by 0.3% in February from the previous month. Analysts had expected the same 0.2% rate of growth as in January. Year-on-year, the indicator rose 4.9%. AUD/USD was up from 0.7076 … “Aussie Trims Gains After Rallying on Risk Appetite, Domestic Data”
Japanese Yen Attempts to Rebound After Falling on Market Sentiment, Domestic Reports Helpful
Japan’s macroeconomic data released during the Friday’s trading session was good for the most part, but that did not prevent the Japanese yen from falling due to mild risk appetite on the Forex market. Yet currently, the yen is trying to rebound and has basically erased losses versus some of its major rivals, including the euro and the Great Britain pound. The Tokyo core CPI rose 1.1% in February from a year … “Japanese Yen Attempts to Rebound After Falling on Market Sentiment, Domestic Reports Helpful”
NZ Dollar Recovers Despite Underwhelming Housing Data
The New Zealand dollar was recovering today after the previous sharp sell-off with the help of the market sentiment, which was somewhat improving as was demonstrated by gains of Asian stocks. The rebound was limited, though, and was nowhere near significant enough to erase the Wednesday’s huge losses. Domestic macroeconomic data was not helpful to the currency. The Statistics New Zealand reported that the seasonally adjusted number of building consents increased by 1.9% … “NZ Dollar Recovers Despite Underwhelming Housing Data”
EUR/USD set to move on weaker Core CPI
Euro-zone inflation numbers for March will likely be subdued. German and Spanish figures point to the downside. They may add pressure on the common currency, which is already struggling. The euro-zone publishes its preliminary estimates for inflation numbers for March 2019 on Monday, April 1st, at 9:00. Back in February, the headline Consumer Price Index … “EUR/USD set to move on weaker Core CPI”
US Dollar Mixed on Q4 GDP Revision, Weekly Jobless Claims
The US dollar is mixed against a basket of currencies towards the end of the trading week. The greenback is making sense of an influx of economic data that paints an interesting portrait of the country: a slowing economy, but a solid labor market. On Thursday, the Bureau of Economic Analysis (BEA) revised its fourth-quarter gross domestic product (GDP) figures. The US government found that the national economy advanced at a slower pace in the October-to-December period, from 2.6% … “US Dollar Mixed on Q4 GDP Revision, Weekly Jobless Claims”